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Exemption u/s 35(1) – Approved Scientific Research Associations/Institutions – National Institute of Mental Health and Neuro Science (NIMHANS) Bangalore

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY PART II,

SECTION 3, SUB-SECTION (ii)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION NO. 60/2013

DATED 7-8-2013

It is hereby notified for general information that “National Institute of Mental Health and Neuro Science (NIMHANS) Bangalore, (PAN-AABTN6120B) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of theIncome-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), for 2012-2013 onwards in the category of ‘University, College or Other Institution’, subject to the following conditions, namely:”

(i)   The sums paid to the approved organization shall be utilized for scientific research;

(ii)   The approved organization shall carry out scientific research through its faculty members or its enrolled students;

(iii) The approved organization shall maintain separate books of account in respect of the sums received by it for scientific research, reflect therein the amounts used for carrying out research, get such books audited by an accountant as defined in the explanation tosub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;

(iv)   The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research in respect of concerned Departments and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

2. The Central Government shall withdraw the approval if the approved organization:-

(a) fails to maintain separate books of account referred to in sub-paragraph (iii) of paragraph 1; or

(b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or

(c) fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or

(d) ceases to carry on its research activities or its research activities are not found to be genuine; or

(e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules

[F. NO. 203/36/2012-ITA-II]

Tags: Central GovernmentGazette of IndiaGovernment of IndiaIncome Tax Act 1961ministry of financeNational Institute of Mental HealthSection Thirty-five of the Constitution Act 1982Taxation in India

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